OpenStack Foreman-based Installer cannot PXE server leading to dracut shell with dracut-initqueue[492] error /dev/root does not exist

Issue

• OpenStack Foreman-based Installer cannot PXE server leading to dracut shell with dracut-initqueue[492] error /dev/root does not exist

[  OK  ] Reached target Basic System.
dracut-initqueue[492]: Warning: Could not boot.
dracut-initqueue[492]: Warning: /dev/root does not exist
         Starting Dracut Emergency Shell...
Warning: /dev/root does not exist

Generating "/run/initramfs/rdsosreport.txt"

Entering emergency mode. Exit the shell to continue.
Type "journalctl" to view system logs.
You might want to save "/run/initramfs/rdsosreport.txt" to a USB stick or /boot
after mounting them and attach it to a bug report.